The polarity of the induced emf is such that it produces a current whose magnetic field opposes the change that produces it. The induced magnetic field inside any loop of wire always acts to keep the magnetic flux in the loop constant. This inherent behavior of generated magnetic fields is summarized in Lenz's Law.he polarity of the induced emf is such that it produces a current whose magnetic field opposes the change that produces it. The induced magnetic field inside any loop of wire always acts to keep the magnetic flux in the loop constant. This inherent behavior of generated magnetic fields is summarized in Lenz's Law.
When gross profit ratio is expressed in percentage form, it is known as gross profit margin or gross profit percentage. The basic components of the formula of gross profit ratio (GP ratio) are gross profit and net sales. Gross profit is equal to net sales minus cost of goods sold.
For the purpose of this ratio, net profit is equal to gross profit minus operating expenses and income tax.All non-operating revenues and expenses are not taken into account because the purpose of this ratio is to evaluate the profitability of the business from its primary operations.or the purpose of this ratio, net profit is equal to gross profit minus operating expenses and income tax.